NEW YORK, Oct. 17, 2019 /PRNewswire/ -- Moore Kuehn, PLLC, a securities law firm located on Wall Street in downtown New York City, is investigating potential claims involving the directors and officers regarding possible breaches of fiduciary duties and other violations of law related to merger agreements, inaccurate developments and/or financial projections.
Genomic Health, Inc. may merge with Exact Sciences Corp. (NASDAQ: EXAS). Moore Kuehn is investigating Genomic Health's board of directors' decision to sell the company now rather than allow shareholders to continue to participate in the company's continued success and future growth prospects.
Before July 25, 2019, the officers and directors of Carbonite issued positive projections and financial forecasts despite having information to the contrary.
Specifically, the officers and directors failed to disclose that: (i) Carbonite's Server Backup VM Edition was of poor quality and technologically flawed; (ii) Carbonite was receiving poor reviews and complaints from customers about the Server Backup VM Edition; and (iii) the poor quality and technological flaws of the Server Backup VM Edition were acting as a "disruptive" factor throughout the Carbonite salesforce and keeping that sales organization from closing opportunistically on several larger deals during fiscal 2019; and (iv) as a result of the foregoing, Carbonite lacked any reasonable basis for issuing its positive projections and financial forecasts.
On July 25, 2019, Carbonite, conceded that it was withdrawing the Server Backup VM Edition from the marketplace and consequently dramatically lowered its financial projections for fiscal 2019 and 2020. On the same day, Carbonite's Chief Executive Officer announced he was leaving the Company.
Moore Kuehn encourages shareholders to contact Fletcher Moore, Esq. by email at [email protected] or telephone at (212) 709-8245. There is no cost or obligation to you.
Moore Kuehn is a New York-based law firm with attorneys representing investors and consumers in class action litigation involving securities law violations, financial fraud, breaches of fiduciary duties, and other claims. For additional information about Moore Kuehn, please go to http://www.moorekuehn.com/practice/new-york-securities-litigation/.
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Moore Kuehn, PLLC
Fletcher Moore, Esq.
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New York, New York 10005
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